The Great Solana Airdrop Guide
Here is a massive deep dive into the world of Solana and all the opportunities that surround it. This is FULL of value. Come for the community & the tech. Provide value & be rewarded. Do not abuse.
NOTE: I have included many links to protocols below, some will have my ref links. I have added “Dirt’s Ref Link” beside any link which includes one. Must be transparent.
First and foremost, ol Dirt spent a good deal of time debating whether or not this article should be written. There are a considerable amount of problems associated with airdrops. Whether from a sybilling perspective or a hot ball of money one. So I will tread very carefully with this report.
Please read the following paragraph and take a moment to reflect on what it represents.
This guide is something bigger than the title. I started crypto in 2017 but only began as a researcher during the early Defi summer days. From there I found Solana and began diving into all sorts of ecosystems. Visiting Polkadot + its parachains, Cosmos + the IBC world, and then all the abundance of the layer 2 scene. Airdropping has always existed and I applaud the protocols that give value to their communities.
“Airdropping is an art and the teams involved are the artists.” ~ Dirt Diggler, today A.D.
But as enjoyers, we too have much to consider. Come to Solana, and provide value for your share, and don’t stop there. See the success through to the end. We all win when the protocols we use succeed.
And now, without further adieu:
WARNING: Investing in crypto is a dangerous game. Nothing here is financial advice. DYOR. Small piece of advice: always use official twitter protocol accounts and follow their direct links to dApps. Searching Google is risky IMO.
Index
Announced
Zeta Markets ~ Perp DEX
Margin finance ~ Borrow/Lend + LSD + Stable
Jito Labs ~ LSD
Jupiter ~ DEX Aggregator
Phoenix ~ DEX
Kamino ~ Automated Portfolio Management
Tensor ~ NFT DEX
Hxro Network ~ Gambling / Derivatives Infra
Solblaze ~ LST (ongoing airdrop)
Pyth ~ Oracle (announced not claimed)
Speculative
Drift Finance ~ Perp, Spot + Money Market
Helius Labs ~ RPC/API Infra
Armada Fi ~ Liquidity Bootstrapping Infra
Mayan Finance ~ Bridge
Flash Trade ~ Perp DEX
Elusiv ~ ZK
Backpack ~ Wallet, NFT + DEX/CEX
Phantom ~ Wallet
Solflare ~ Wallet
Magic Eden ~ NFT DEX
Meteora ~ Yield Aggregator
DRiP ~ NFT
I am only going to say this once: Join the Discords & Telegrams, and engage in the communities. Find the bugs, help the teams, and rise together 🔥
p.s. use Jupiter’s DCA tool for all low liquidity purchases
Announced
The following protocols have in one way or another stated or hinted at an airdrop. Therefore what follows is my advice on how best to get involved.
You are right on time with the Z-Score having just launched, which is the first season for token points. So what do you need to know? Zeta is the fastest perp dex in crypto, the team is goated, the V2 is a significant improvement from V1 and V3 is right around the corner.
Read Zeta’s deep dive here -> substack and a recent podcast with founder Tristan Frizza here -> YouTube!
How:
Deposit USDC here -> www.zeta.markets
Place Taker Orders (ie market orders). These are the only orders included in Season 1 which is important for keeping away those trying to abuse the system.
There is a 24-hour volume & PnL score multiplier, so those who are most active are rewarded.
There’s even an NFT that is in the process of dropping to prominent NFT partners. So if you’re holding Mad Lads, Tensorians, or Banx you should expect an NFT for Z-Score boosts. The NFTs each have their effective schedules → link.
Mad Lads are up first starting Nov 13th.
The referral system will return soon & this is a surefire way to help your standing.
Bonus:
The Z-Score Boost NFTs have just been airdropped to qualifying NFT holder wallets. Don’t have one? You can buy them on the open market! Have more than one? … Yeah you get it!
marginfi is one of the most exciting protocols being developed on Solana right now. With a very healthy borrow-lend facility & a new liquid staking token ($LST) touting the highest APY amongst Solana LSDs. They’ve also got a stablecoin on the roadmap. Marginfi has had its point system live for a few months now, which I reported in an earlier ecosystem deep dive, but that doesn’t mean you shouldn’t partake. I expect marginfi to perform very well in the ensuing bull market.
NOTE: It would appear that Marinade has a higher apy, 8.5% or so due to token emissions.
How:
Head over to the mrgnlend dApp (Dirt’s Ref link) and see which tokens have deposit cap space.
All full? Head to telegram/discord and do some recon. There is always alpha inside the chat frens.
For every $1 supplied and borrowed, you get points.
You also get points for referring other users
Consider their new LST as well and be on the lookout for their stablecoin
Bonus:
There are many ways to use mrgnlend’s tokens to further other protocol airdrop chances. Many of the strategies to follow will include this as an option. The reader should understand that there is always a risk involved with borrowing tokens, so make sure to keep your account status WAY above zero. You can be liquidated on the way up and the way down.
Oh yeah check out a recent podcast I did with them → Youtube link
Jito does many things for the Solana ecosystem. I briefly met the founder at Breakpoint and look forward to hosting a podcast with him in the future. Aside from being one of the most exciting Solana LSTs, they are also the hosts of a forked Solana Labs network client. This is big for protocol uptime. They also have a token point system which has been live for a while.
Stay tuned for my upcoming Jito report, in the process of finishing it up (wen time).
How:
Acquire SOL or purchase jitoSOL
A couple of options for staking: use the dApp, use Backpack or Phantom to stake in the wallet, and of course → use Dirt’s Ref Link 🫡
Use your jitoSOL in DeFi applications to earn more points
Even if you lend them you’re covered.
Check points here.
It has finally happened. Jupiter announced their airdrop. I fucking knew it, I mean we all did, but still! At Breakpoint they even announced the tokenomics, which will include 40% for Community Growth (ie 4 rounds of airdrops). This means my friends that there is time for you to use the protocol. Check out the new perp dex and keep an eye out for their upcoming launchpads. Even completing 25% of this airdrop guide will be enough to increase your exposure, as I suggest Jupiter a lot. And for those of us who have never left, there is zero chance you didn’t interact with Jupiter along the path… so congrats.
How:
Head → https://jup.ag/
Use any one of their epic products:
Swap
Limit Order
DCA
Bridge Comparator
Perp
The team at Ellipsis Labs has cranked out (pun intended) a superb product with Phoenix. A true CLOB exchange. Used it the other day and was mighty impressed with how it executed my BONK buys… though not my sells 😉. The founder is well respected in the space, though I have not spoken with anyone from the team yet. Certainly will be a DEX contender in the future, though very limited pairs for now. Anatoly is certainly interested, as I have heard him mention it now a few times.
How:
Head on over → https://www.phoenix.trade/
Trade and give feedback
Bonus:
Anytime that you need to swap USDC, BONK or SOL use Phoenix to get that volume up.
Is often touted for its product line by teams in the ecosystem. Have also recently been acquainted with one of the founders and am impressed with the things I am hearing. Highly recommend using Kamino. This is the same team that created Hubble and its stablecoin. Liquidity provisioning is usually something that starts to pick up steam in full-blown bull markets. Currently sitting cozy at $14M TVL. I expect that number to only go up from here… pullbacks or not.
How:
Advanced Strat: Borrow stables or LSTs from marginfi and use them in Kamino
WARNING: Risky endeavour, NFA, play responsibly. Impermanent Loss can severely affect profitability → learn here.
Go here → https://app.kamino.finance/
Pick vaults with as much or as little risk as you can stomach
Bonus:
Stay tuned for an upcoming podcast with the team!
Exploded onto the scene and has been shipping ever since. Offering more of an advanced styled NFT trading experience than its direct competitor Magic Eden. If you check this flipside dashboard (credit to Mrfti) you’ll be able to see for yourself the volume comparisons. May also be wise to buy a Tensorian. Already starting to see ‘DeFi x ____ NFT partnerships’ and think this trend will continue. The value being given to communities. Also, a pretty safe bet that Tensor will ascribe utility to their native NFT. Now these trading seasons have been ongoing for quite some time so don’t be expecting too much, but you never know and if you like NFTs then it’s the best place for it.
How:
Go to the website → https://www.tensor.trade/ & trade NFTs
List, Bid & Market Make
If you own a Tensorian it helps you with boost & levelling
I have purchased numerous Mad Lads here and am not seeing a lot of acknowledgment. I think they are angry at my narrow-minded approach.
Bonus:
Holding a Tensorian also qualifies you for the upcoming Zeta Markets Z-Score Boost NFT drop!
First off, Hxro already has a token but what they also have is a burgeoning ecosystem of derivatives and gambling protocols building on top of their trading tools and risk engines → see protocols here. What I have already noticed is that some of these protocols are providing airdrops for those staking $HXRO 👀
How:
Acquire $HXRO, I recommend using the Jupiter DCA as it is the best way to avoid low liquidity slippage & also gets you more JUP volume.
Go to the website & stake → https://hxro.com/
Keep an eye out on the protocols as some (like PepperDEX) already announced allocations for Hxro stakers.
Bonus:
I’ve met with the Hxro team and am very impressed. They have a long trading history and are partnering with the right people. Catch my podcast with cofounder Gunny here → YouTube
Solblaze thrust onto the scene a few months ago by becoming the first “new” Solana LST to come to market with a protocol token. A small team that ships fast. Dirt has been a holder since the beginning and only plans on lending his tokens out at this point. A recurring theme you’ll be hearing throughout this report: “not going to fumble the bags”. I don’t care if we go back down. BLZE is of course also already live, so the airdrops will continue to decrease in size. It is nice to see that governance is already live, as I said, ships fast.
How:
Stake SOL directly → https://stake.solblaze.org/
Or purchase $BSOL or BLZE and use in any defi protocols to garnish airdrop rewards
Then stake the tokens on marginfi or Kamino for extra juice. CAUTION!
Have to give it to the chads at Pyth, I remember joining their Discord a while back and spamming wen token, cause I’m a POS and hearing that there won’t be a token. Then wam → news drop. Which is perfect, blindside us. It’s one of the core premises of this report. Don’t be like Dirt and spam channels, look for good protocols and provide value. PYTH airdropped you value for being snoopy and trying out defi applications. Those who are still here will continue to be rewarded.
How:
Go here to check your allocation → https://airdrop.pyth.network/verify-eligibility/check-eligibility
Go to Solana to claim it
Try to leave the ecosystem once you have 😉
Or better yet use my marginfi ref link and stake that shit once the Pyth borrow/lend is live. That way you won’t fumble it.
ps I have no idea if marginfi will add a market, I just assume because I’m an ass.
Bonus:
Recently met these lads at Breakpoint, albeit it was a hazy night, and so I look forward to more recourse with them… that is once they are done hitting all the conferences that their multichain protocol has to attend. Steady as she goes lads!
INTERMISSION: Those are the confirmed airdrops but before we get to the speculative category consider following Dirt on his media channels to support his work:
Website (under development 👀)
Speculative
The following protocols have not stated anything about an airdrop. Therefore what follows is my advice on how best to get involved. Decentralization demands tokens and so do the good people of Solana.
These are listed from High to Low likelihood but are otherwise in no specific order 🫡
Likelihood: High
Drift is battle-tested, and the protocol is a refined DEX with a CEX-like feel. I suspect good perpetual protocol tokens like Drift (& Zeta) to fare very well throughout the next bull cycle. Have recently met some of the team and I like what I see. When you go to the dApp you will like what you see as well.
Watch my recent podcast with cofounder Cindy Leow here -> youtube
How:
Deposit either USDC or SOL here -> Drift Dex (Dirt’s Ref Link)
Drift accepts many blue chip tokens as collateral → check documents
Trade, lend, swap, etc.
Have to assume that it will be volume-based.
Bonus:
The Drift team has a raffle system so that traders have the chance to be rewarded with a share of the platform’s revenue. Everyone likes a lottery, at this point, it’s a scientific fact.
Likelihood: High
Helius is on the hunt to become the defacto RPC/API provider for Solana. If you’ve been paying attention you also know that the team’s cofounder Mert is hell-bent on not only that but also ensuring Solana gets the technical respect it deserves. I see Mert as Anatoly’s enforcer. Mert = Tie Domi & Anatoly = Mats Sundin IYKYK.
How:
Head over to Helius → https://www.helius.dev/built-with-helius
And start using the protocols they support ~ as a retail enjoyoor it’s the only way. Think about it like PYTH. They airdropped to the users of their supported protocols.
p.s. if you use Solana on chain you don’t even need to do this one.
Likelihood: High
As with the other protocols in this section, this is pure speculation. But it’s too damn exciting not to be included. Armada Fi is the culmination of two teams, Hxro & PsyFi, both of which I have met. The former with decades of tradfi trading experience and the latter with deeply respected Solana coding experience. There is no world in which a token launching platform, focused on the fair and decentralized launching of tokens has no token of its own, I simply refuse to believe it.
How:
Armada is the backend for upcoming token launch economies, therefore you must watch their Twitter & join the discord to stay informed about upcoming launches.
Provide liquidity on → https://app.armadafi.so/
Aim to support token launches that they provide services for
Be careful here and do your research. As the bull market emerges so too will the rise of scammy projects.
Likelihood: High
First and foremost be careful with bridges. Whether you are dealing with liquidity pools or mint authorities. Trust is always assumed. That said I’ve been snooping inside the discord and sounds like these guys have something brewing. That also said they are not very responsive so be cautious. I have put a good amount of liquidity through this bridge and so I must report that. They are a Wormhole bridge. Which has itself been exploited and so it’s a matter of assigning value to that: is a prior exploit a sign of a hardened product? Dirt’s into second chances.
How:
Go to → https://mayan.finance/
Use Jupiter’s Bridge Comparator to make sure you’re not getting hosed ~ which in my experience has never been the case with Mayan, simply a matter of time savings.
Bonus:
Bridges are a tricky situation. But they are a necessity for those wishing to remain inside the defi landscape, that is of course until Circle completes its implementation with Jupiter for the USDC CCTP native transfers. Mayan appears to have CCTP on the roadmap as well.
Likelihood: High
New Perp DEX on the block and from what I understand, will bring the benefits of the GMX/GLP stack to Solana with additional NFT gamefication. Have to admit I am not very familiar with the protocol or the team on a personal level. Only recently learned about them before the conference. From what I can tell, there is some promise and there is a high likelihood of a token drop. But tread carefully, join the discord, and ensure for yourself first. I know I will be before I provide liquidity. The product does look interesting!
How:
Join the community & establish trust.
Provide liquidity & trade once live.
Join discord + provide value = get a WL role for Utility NFT
Likelihood: High
ZK on Solana is a novel experience but also an important one. Especially with narratives like DePIN & Social Graphs, the need for privacy is paramount. Backed by Jump, Solana Foundation, and Anatoly himself. Managed to meet the team at Breakpoint as well. Didn’t get too much time with them but will follow up for a podcast. Privacy needs decentralization, that’s why I’m rating this token airdrop as a high likelihood.
How:
Go to their website → https://www.elusiv.io/
Launch their Public Mainnet Beta & use the tech: Swaps or Transactions
Likelihood: Medium
From the creation of the Anchor language on Solana to this phenomenal wallet, to the birth of the Mad Lads community and xNFTs. Oh yeah and the launch of eXchange, which is sure to be a smashing blend of CEX & DEX. This team is goated. The cofounder has often stated that he believes in under-promising and over-delivering. I’ve also heard him in person during a talk at Breakpoint discussing the importance of tokenization. Now this is Dirt being extremely speculative but who cares, you already knew that, it’s why you are here.
How:
Download the wallet → https://www.backpack.app/downloads
Use the wallet (ie stake a Mad Lad👇)
Join the exchange waitlist → https://backpack.exchange/waitlist
Just Fockin’ do it
Bonus:
Do yourself a favor and buy a Mad Lad and stake that shit before it’s too late. There’s been a cheeky airdrop symbol in the wallet extension’s xNFT staking portal since the beginning 👀 Dirt’s no mathematician but common, COMMON! (PS could be NFT-related lol)
Likelihood: Medium
The first great Solana wallet experience that continues to deliver. Bridging the gap between Ethereum and Solana. Great for in-app staking. A part of the hunt for the best wallet and not a team I’ll ever write off. Especially since they were the team that brought a solid UI/UX to Solana when it was needed most. This is all speculation, does a wallet need a token? Not really, but will that stop some of them from trying and is that enough to create stickiness? Not sure. We are still awaiting Metamask aren’t we?
How:
Install the wallet & make use of it → https://phantom.app/
Great place for staking SOL as well
Bonus:
I recommend splitting up your Defi, NFT, and web3 experiences to best take advantage of all that Solana has to offer. P.S. The mobile wallet on Saga is a boss.
Likelihood: Medium
Solflare has been around for a long time and I’m happy to see them re-emerging as a wallet contender. I recently met the team in Amsterdam and had a really good time with them, they convinced me to give it a go. Can vouch for good people metrics. Have begun using their wallet as well and am impressed. The combination of removing transaction approvals and trading with hot wallets makes for an epic duo, though a risky one. Also, they have Metamask snaps embedded to make transferring from EVM land a breeze… you thought I was going to say snap didn’t you, shame on you. Will they drop a token? Who knows. But a tractor can will it into existence.
How:
Install the wallet & use it → https://solflare.com/
Use the snaps, use the staking & use the mobile
Likelihood: Low
An OG Solana NFT marketplace, which you can think of as the Opensea to Tensors’ Blur. I imagine that won’t be lost on anyone. Now, Tensor has already announced a token with their points seasons. So the age-old question is simple: Will Magic Eden be forced into a token to remain competitive coming into the next bull? Dirt thinks yes but he also thinks they will be patient.
How:
Go here → https://magiceden.io/
Buy, Sell & Trade
Don’t overthink it & don’t waste your $SOL on garbage jpegs
Likelihood: Low
Meteora team still sorting out the $MER holders and has stated pretty clearly that they are going to let the “to be formed” DAO decide how the tokens will be released. But there is a half-decent chance that they reward stakers of the new Meteora protocol with a little something something.
How:
Go here → https://app.meteora.ag/
Provide Liquidity
This is another good place for your LSTs
Bonus:
Dynamic LST Pools are a novel innovation that helps users avoid IL by tracking the true price of Solana LSTs.
Likelihood: Low
Have been using DRiP for a while now and to be honest, I love it. Have enjoyed tipping my favorite artists and playing the gamification. Also has me thinking of getting a Meural NFT display, which I saw at Breakpoint. Anyways, the founder is full of conviction for onboarding the masses, and with compressed NFT tech on Solana, I’m almost inclined to believe him.
How:
First come first serve on this invite code: 7wKXf6yD (will try to update with new codes as I get them 🫡)
Twitter is also a great place to find invites → https://twitter.com/drip_haus just look in the comments section.
Head on over → https://drip.haus/ & subscribe to your favorites
Tipping is thought of favorably and there are hungry & cold (bear market burr) artists around.
Bonus:
Go to the Legendary Lock-In and RPC your way to rarer NFTs.
The End.
I am extremely proud to state that Zeta Markets is the official sponsor of the Dirty Diggler Blog. Dirt only has his image and to that, he holds high regard. That is why he’s chosen to align with one of Solana’s great up-and-coming protocols. The fastest CLOB perp DEX in crypto with one hell of a team & product. Don’t believe me? Try for yourself and earn those Season 1 Z-Score points I mentioned above! → → → https://dex.zeta.markets/
DISCLAIMER: Nothing in this report should be misconstrued as financial advice. Any investments should be taken at the sole discretion of the reader and/or counterparty. DYOR
Stay Dirty,
Looking to hire a Researcher, Business Developer, Advisor, or Content Creator? DM Dirt
Great List!
Great. I will do this